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Trending ETFs

Diamond Hill Short Duration Securitized Bond Fund

mutual fund
DHEAX
Payout Change
Pending
Price as of:
$9.97 +0.0 +0.0%
primary theme
U.S. Short-Term Bond Duration
share class
Investor (DHEAX) I (DHEIX) Y (DHEYX)
DHEAX (Mutual Fund)

Diamond Hill Short Duration Securitized Bond Fund

Payout Change
Pending
Price as of:
$9.97 +0.0 +0.0%
primary theme
U.S. Short-Term Bond Duration
share class
Investor (DHEAX) I (DHEIX) Y (DHEYX)
DHEAX (Mutual Fund)

Diamond Hill Short Duration Securitized Bond Fund

Payout Change
Pending
Price as of:
$9.97 +0.0 +0.0%
primary theme
U.S. Short-Term Bond Duration
share class
Investor (DHEAX) I (DHEIX) Y (DHEYX)

Name

As of 12/10/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Diamond Hill Short Duration Securitized Bond Fund

DHEAX | Fund

$9.97

$1.61 B

5.66%

$0.56

0.81%

Vitals

YTD Return

8.8%

1 yr return

9.9%

3 Yr Avg Return

4.4%

5 Yr Avg Return

3.7%

Net Assets

$1.61 B

Holdings in Top 10

19.5%

52 WEEK LOW AND HIGH

$10.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.81%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 48.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

$2,500

IRA

N/A

Fund Classification

Fund Type

Open End Mutual Fund

Name

As of 12/10/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

Diamond Hill Short Duration Securitized Bond Fund

DHEAX | Fund

$9.97

$1.61 B

5.66%

$0.56

0.81%

DHEAX - Profile

Distributions

  • YTD Total Return 8.8%
  • 3 Yr Annualized Total Return 4.4%
  • 5 Yr Annualized Total Return 3.7%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 2.26%
DIVIDENDS
  • Dividend Yield 5.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    Diamond Hill Short Duration Securitized Bond Fund
  • Fund Family Name
    Diamond Hill Funds
  • Inception Date
    Jul 05, 2016
  • Shares Outstanding
    N/A
  • Share Class
    Investor
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Henry Song

Fund Description

Under normal market conditions, the fund invests at least 80% of its net assets in securitized bond investments. Securitized bond investments are also referred to as “structured product securities” or “structured products.” Securitized bond investments include secured loans backed by commercial real estate, residential real estate, commercial or consumer loans, and securitizations such as agency and non-agency mortgage-backed securities (MBS) (including commercial mortgage-backed securities (CMBS), residential mortgage-backed securities (RMBS), and collateralized mortgage obligations (CMOs)), asset-backed securities (ABS), and other similar securities and related instruments.
Agency MBS are issued or guaranteed by the US government, its agencies or instrumentalities, which include mortgage pass-through securities representing interests in pools of mortgage loans issued or guaranteed by the Government National Mortgage Association (GNMA or “Ginnie Mae”), the Federal National Mortgage Association (FNMA or “Fannie Mae”), the Student Loan Marketing Association (SLMA or “Sallie Mae”) or the Federal Home Loan Mortgage Corporation (FHLMC or “Freddie Mac”). The fund may also invest in other fixed income instruments, which include bonds, debt or credit securities and other similar instruments issued by various US and non-US public or private sector entities at the discretion of the Diamond Hill Capital Management, Inc. (the “Adviser”).
Under normal circumstances, the fund will maintain an average portfolio duration of less than three, although under certain market conditions, such as periods of significant volatility in interest rates and spreads, the fund’s average duration may be longer than three. Duration is an approximate measure of a bond's price sensitivity to changes in interest rates. For instance, a duration of “three” means that a security’s or portfolio’s price would be expected to decrease by approximately 3% with a 1% increase in interest rates (assuming a parallel shift in yield curve). The fund may invest in individual fixed income securities with effective durations in excess of three, provided, however, such investments are made within the constraints above.
The fund may invest up to 15% of its assets in below investment grade securities, including those referred to as “junk bonds” (or the unrated equivalent) at the time of purchase.
In selecting securities for the fund, the Adviser performs a risk/reward analysis that includes an evaluation of credit risk, interest rate risk, prepayment risk, and the legal and technical structure of the security. The Adviser will attempt to take advantage of inefficiencies that it believes exist in the fixed income markets. The Adviser seeks to invest in securities that the Adviser expects to offer attractive prospects for income and/or capital appreciation in relation to the risk borne.
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DHEAX - Performance

Return Ranking - Trailing

Period DHEAX Return Category Return Low Category Return High Rank in Category (%)
YTD 8.8% 0.9% 19.9% 2.11%
1 Yr 9.9% 2.4% 21.5% 2.69%
3 Yr 4.4%* -5.0% 6.1% 1.17%
5 Yr 3.7%* -3.8% 5.8% 3.70%
10 Yr N/A* -18.5% 170.6% N/A

* Annualized

Return Ranking - Calendar

Period DHEAX Return Category Return Low Category Return High Rank in Category (%)
2023 2.8% -1.6% 7.6% 21.92%
2022 -6.7% -17.7% -2.6% 39.73%
2021 0.1% -4.0% 4.4% 3.42%
2020 -0.2% -7.1% 7.6% 93.21%
2019 0.6% -2.3% 9.3% 97.87%

Total Return Ranking - Trailing

Period DHEAX Return Category Return Low Category Return High Rank in Category (%)
YTD 8.8% 0.9% 19.9% 2.11%
1 Yr 9.9% 2.4% 21.5% 2.69%
3 Yr 4.4%* -5.0% 6.1% 1.17%
5 Yr 3.7%* -3.8% 5.8% 3.70%
10 Yr N/A* -18.5% 170.6% N/A

* Annualized

Total Return Ranking - Calendar

Period DHEAX Return Category Return Low Category Return High Rank in Category (%)
2023 8.4% 1.8% 15.2% 2.50%
2022 -3.6% -17.3% -1.3% 14.87%
2021 2.2% -2.7% 7.7% 5.43%
2020 2.9% -2.4% 14.5% 89.51%
2019 4.4% 0.6% 12.6% 58.09%

NAV & Total Return History

DHEAX - Holdings

Concentration Analysis

DHEAX Category Low Category High DHEAX % Rank
Net Assets 1.61 B 14.5 K 57.3 B 45.02%
Number of Holdings 505 2 8314 44.83%
Net Assets in Top 10 566 M 1.05 M 6.81 B 37.74%
Weighting of Top 10 19.51% 2.0% 108.1% 65.90%

Top 10 Holdings

  1. State Street Institutional US Government Money Market Fund, Premier Class 9.39%
  2. State Street Navigator Securities Lending Portfolio I 2.02%
  3. Multifamily Structured Credit Risk Series 2021-MN2, Class M2 1.29%
  4. Homeward Opportunities Funding Trust Series 2024-RTL1, Class A1 1.26%
  5. Firstkey Homes Trust Series 2020-SFR1, Class A 1.17%
  6. LHOME Mortgage Trust Series 2024-RTL3, Class A2 0.91%
  7. Freedom Financial Series 2022-4FP, Class D 0.89%
  8. LHOME Mortgage Trust Series 2024-RTL2, Class A1 0.88%
  9. U.S. Treasury Notes 2.250%, Due 10/31/2024 0.86%
  10. Remic Funding Trust Series 2024-2, Class A1 0.83%

Asset Allocation

Weighting Return Low Return High DHEAX % Rank
Other 		73.75% -0.97% 73.75% 0.19%
Bonds 		17.85% 0.00% 131.65% 92.34%
Cash 		11.42% -20.59% 68.64% 14.18%
Convertible Bonds 		0.39% 0.00% 27.71% 89.25%
Stocks 		0.00% 0.00% 99.96% 27.01%
Preferred Stocks 		0.00% 0.00% 24.12% 22.99%

Bond Sector Breakdown

Weighting Return Low Return High DHEAX % Rank
Securitized 		87.42% 0.00% 97.27% 0.58%
Cash & Equivalents 		11.42% 0.00% 68.64% 13.60%
Corporate 		6.01% 0.00% 99.82% 97.31%
Government 		5.02% 0.00% 73.63% 82.73%
Derivative 		0.00% -0.72% 25.70% 46.36%
Municipal 		0.00% 0.00% 14.41% 55.66%

Bond Geographic Breakdown

Weighting Return Low Return High DHEAX % Rank
US 		17.85% 0.00% 126.86% 91.57%
Non US 		0.00% 0.00% 87.70% 20.69%

DHEAX - Expenses

Operational Fees

DHEAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.81% 0.01% 3.29% 35.58%
Management Fee 0.35% 0.00% 1.19% 52.87%
12b-1 Fee 0.25% 0.00% 1.00% 26.59%
Administrative Fee 0.21% 0.01% 0.41% 88.15%

Sales Fees

DHEAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 5.75% 52.63%
Deferred Load N/A 0.50% 4.00% N/A

Trading Fees

DHEAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

DHEAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 48.00% 2.00% 500.00% 27.06%

DHEAX - Distributions

Dividend Yield Analysis

DHEAX Category Low Category High DHEAX % Rank
Dividend Yield 5.66% 0.00% 11.11% 3.45%

Dividend Distribution Analysis

DHEAX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

DHEAX Category Low Category High DHEAX % Rank
Net Income Ratio 2.26% -1.27% 4.98% 7.99%

Capital Gain Distribution Analysis

DHEAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

View More +

DHEAX - Fund Manager Analysis

Managers

Henry Song

Start Date

Tenure

Tenure Rank

Jul 05, 2016

5.91

5.9%

Henry serves as a Portfolio Manager for Diamond Hill Capital Management and joined the firm in 2016. Prior to joining Diamond Hill, Henry was a Portfolio Manager at J.P. Morgan Asset Management from 2005 to 2016. Henry has a Bachelor of Business Administration from the University of Michigan.

Mark Jackson

Start Date

Tenure

Tenure Rank

Jul 05, 2016

5.91

5.9%

Mark serves as a Portfolio Manager for Diamond Hill Capital Management and joined the firm in 2016. Prior to joining Diamond Hill, Mark was Managing Director and Portfolio Manager at J.P. Morgan Asset Management from 1996 to 2016. From 1993 to 1995, he was a Portfolio Manager for Alexander Hamilton Life Insurance Company. From 1985 to 1993, Mark was a Portfolio Manager for Public Employees Retirement System of Ohio. Mark has a Bachelor of Science in Finance from Miami University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.07 28.77 6.16 2.41

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